The FBR’s tax collection has reportedly fallen short by Rs100 billion from the target in the first four months of FY19. Nearly 38 percent of all sales tax (import and domestic) comes from petroleum products. The failure to pass on the full impact of increased oil prices and currency...

ISLAMABAD: The government is soon to publish a tax directory of lawmakers after a one-year break and more than 100 individuals in the list are shown as non-filers, sources said on Thursday. The previous Pakistan Muslim League (Nawaz) government introduced the practice of issuing tax directory dedicated to lawmakers in...

ISLAMABAD: The federal cabinet on Thursday decided to separate revenue collection administration from tax policy formation to promote equity and transparency in the tax machinery. The decision was taken at a special briefing meeting headed by Prime Minister Imran Khan who directed all economic divisions to keep the executive body...

ISLAMABAD: The Rs68-billion shortfall in tax revenues in just four months of the current fiscal year has set alarm bells ringing as Finance Minister Asad Umar fears that the International Monetary Fund (IMF) may ask Pakistan to impose new taxes if corrective measures are not taken immediately. In spite of the...

ISLAMABAD: A senior leader of the Pakistan Tehreek-i-Insaf (PTI) Dr Babar Awan has filed a petition on behalf of an auto dealer in the Islamabad High Court (IHC) against the government’s policy that bars non-filers of income tax returns from purchasing vehicles. Arguing before Justice Aamer Farooq on behalf of...

ISLAMABAD: The Senate Special Committee on Tobacco Taxation has directed the Federal Board of Revenue (FBR) to submit a report about the relatives of tax officials working in cigarette companies. On Tuesday, the Senate Special Committee on Tobacco Taxation met at the Parliament House under the chairmanship of Senator Kalsoom Perveen. The...

ISLAMABAD: The Federal Board of Revenue on Tuesday decided to grant the facility to resolve more than 31,000 tax cases at different legal forums through mediation committees. For this purpose ADRC (Alternative dispute resolution committees) will be formed headed by retired session judges. The head of the committee will be paid Rs200,000 whereas...

KARACHI: The Federal Board of Revenue (FBR) is likely to incur Rs60 billion in losses during the first half of the current fiscal year of 2018/19 as the government struggles to shed reliance on sale taxes on petroleum products, sources said on Monday. The tax authorities also estimated a sharp...

ISLAMABAD: Federal Board of Revenue (FBR) has slapped ban on usage of social media, streaming sites and excessive downloads through official internet for all users. With the approval of the FBR chairman, the Board has issued internet usage policy for official business and slapped ban on using social media,...

ISLAMABAD: The Federal Board of Revenue (FBR) chief has finally shaken up the tax department at the level of field formations, posting officers of known integrity and competence at key positions except for two stations in Punjab and one in Balochistan. The FBR notified the transfers and postings of over two-dozen...